RITRACT LIMITED(RTL)

name changed to RTL Corporation Limited

securities reinstated to quotation

the Company has now satisfied all pre-conditions to seeking reinstatement to trading of its securities on the Australian Securities Exchange and will be reinstated to quotation on Monday 19 May

we understand that on or about this date the company consolidated its shares 1 for 2

all resolutions were carried at the Company's General Meeting today

capital of the company is being consolidated one share for every two held

releases a placement prospectus

releases half yearly accounts

directors advise the market of certain material events that have allegedly resulted in the Company incurring substantial debts that the Directors were not previously aware of - as a result of these debts being brought to the attention of the Company, the Directors have limited options available to them to ensure that the Company remains a going concern

a cash flow report for the quarter to 31 December 2007 shows a deficit at operating level of $70k and cash on hand of -$1k

the company has recently begun discussions with another British company regarding the rights to the syringe technology - the company has several options for recapitalizing and moving forward, however these options are still in the process of being evaluated

both resolutions at today's AGM were passed

a cash flow report for the quarter to 30 September 2007 shows a deficit at operating level of $18k and cash on hand of $30k

company provides notice of an Annual General Meeting to be held on Thursday 29 November 2007, at 11am (EST) at Level 12, 459 Collins Street, Melbourne, Victoria

company releases its Preliminary Final Report

company says its restructuring plan has been completed and overheads reduced to a minimum - the ASX trading halt on Ritract shares will stay in place until such time as the company has solid news to announce regarding three licensing deals

a cash flow report for the quarter to 30 June 2007 shows a deficit at operating level of $146k and cash on hand of $48k

after a restructuring, the company has only one employee, Mr Tom Davenport, who has been appointed Chief Executive Officer of the company (previously Head of Research and Development and Engineering) - the company is continuing discussions with companies who have expressed an interest in licensing the company's technology and/or have an interest in investing in the company

MD Bill Nicklin and non-exec director Tony Fitzgerald resign

securities suspended from quotation whilst a restructure is implemented

shares reinstated to quotation

company advises that pre market release testing found that a small percentage of products failed to operate correctly and under the rules of the QMS it is unable to release product - this had implications for the Company's ongoing funding requirements and in particular for the completion of its announced capital raising - it also prevented the completion and lodgement of Ritract's 2006 Annual Report - the Board has made the decision not to invest further funds into development of the Needlesleeve technology - the board expects the minor production issues to be overcome shortly

securities suspended from quotation because of failure to lodge full year accounts for the period to 30 June 2006